Springfield, MO—65804
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Springfield, MO
As of Oct '25, the median home price in Springfield, MO is $258,000, with a year-over-year change of 0.4%. This indicates that home prices in Springfield, MO are flat. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $258,000 | 0.4% |
| Single Family | $260,000 | 0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $181,000 | 0.6% |
3 Bed | $241,000 | 0.4% |
4 Bed | $363,000 | 1.4% |
| 5 Bed | $520,000 | 0.6% |
% of Housing Stock
Rental Trends — Springfield, MO
As of July '25, Rentcast reports the average rent in Springfield, MO is $1,330, with a year-over-year rent change of 1.5%. Per bedroom, the median rent as of July '25 in Springfield, MO is studios: $1,000, 1-bedrooms: $905, 2-bedrooms: $968, 3-bedrooms: $1,540, 4-bedrooms: $1,950. The most common rental property sizes in Springfield, MO are 2-bedroom and 1-bedroom, accounting for 38.4% and 27.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,240 | $1,330 |
| Studio Rent | $1,140 | $1,000 |
| 1 Bed Rent | $750 | $905 |
| 2 Bed Rent | $950 | $968 |
| 3 Bed Rent | $1,500 | $1,540 |
| 4 Bed Rent | $1,800 | $1,950 |
% of Rental Stock
Property Listings — Springfield, MO
As of Oct '25, Realtor.com reports that the median days on market for a home in Springfield, MO is 41. This is a decrease of -11.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $306,000 | -7.0% |
Listing Count | 173 | 10.0% |
| Listings as % of Homes | 0.4% | 10.0% |
Days on Market | 41 | -11.0% |
Demographics — Springfield, MO
As of the latest ACS Survey released in 2023, Springfield, MO has a population of 40,300, which has increased by 6.6% over the past 5 years. Springfield, MO is a moderately popular place for families, as children make up 20.5% of the population. The area has a moderately educated workforce, with 41.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,300 | 6.6% |
% Under 18 | 20.5% | 12.0% |
% Seniors | 20.7% | -3.7% |
% WFH | 12.5% | 127.3% |
% w/ College Degree | 41.8% | 1.7% |
As of the latest ACS Survey released in 2023, Springfield, MO is a predominantly white area, with 87.4% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Springfield, MO is hispanic, making up 4.2% of the population. Foreign-born residents account for 3.2% of the population in Springfield, MO, and this percentage has decreased by 8.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.4% | -4.2% |
% Black | 2.5% | 38.9% |
% Hispanic | 4.2% | 68.0% |
% Asian | 2.0% | -16.7% |
% Foreign Born | 3.2% | -8.6% |
Mortgage and Risk — Springfield, MO
According to HUD data as of 2023, there were 621 mortgage originations in Springfield, MO, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Springfield, MO. Investor activity is low, as 7.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 621 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Springfield, MO
As of 2024, the percent of homes in Springfield, MO under the Section 8 program is 3.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Springfield, MO, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 357 |
Total Units Section 8 | 357 |
% Rentals under Section 8 | 3.9% |
% Occupied Section 8 | 93.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $750 | $780 |
| 2 Bedroom | $30 | $950 | $980 |
| 3 Bedroom | -$150 | $1,500 | $1,350 |
| 4 Bedroom | -$290 | $1,800 | $1,510 |
Affordability — Springfield, MO
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $258,000 |
| Median Household Income | $58,300 |